Summit Trail Advisors LLC Raises Holdings in Stryker Co. (NYSE:SYK)

Summit Trail Advisors LLC increased its stake in shares of Stryker Co. (NYSE:SYK) by 3.0% during the second quarter, HoldingsChannel.com reports. The firm owned 5,053 shares of the medical technology company’s stock after buying an additional 148 shares during the period. Summit Trail Advisors LLC’s holdings in Stryker were worth $1,723,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in SYK. Global Assets Advisory LLC purchased a new stake in shares of Stryker in the 1st quarter valued at about $341,049,000. JPMorgan Chase & Co. increased its position in shares of Stryker by 10.4% during the 1st quarter. JPMorgan Chase & Co. now owns 8,651,403 shares of the medical technology company’s stock valued at $3,096,078,000 after purchasing an additional 813,311 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Stryker by 5.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 12,541,845 shares of the medical technology company’s stock valued at $3,755,782,000 after purchasing an additional 642,178 shares during the last quarter. 1832 Asset Management L.P. increased its position in shares of Stryker by 146.9% during the 1st quarter. 1832 Asset Management L.P. now owns 878,669 shares of the medical technology company’s stock valued at $314,449,000 after purchasing an additional 522,817 shares during the last quarter. Finally, American Century Companies Inc. increased its position in shares of Stryker by 287.6% during the 2nd quarter. American Century Companies Inc. now owns 505,608 shares of the medical technology company’s stock valued at $172,033,000 after purchasing an additional 375,166 shares during the last quarter. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on SYK. Piper Sandler reiterated an “overweight” rating and set a $380.00 price objective on shares of Stryker in a research report on Tuesday, September 10th. Stifel Nicolaus reduced their price objective on Stryker from $375.00 to $365.00 and set a “buy” rating on the stock in a research report on Wednesday, July 31st. Truist Financial reduced their price target on Stryker from $364.00 to $345.00 and set a “hold” rating on the stock in a research report on Thursday, August 1st. Wolfe Research assumed coverage on Stryker in a research report on Tuesday, September 10th. They set an “outperform” rating and a $405.00 price target on the stock. Finally, Morgan Stanley raised their price target on Stryker from $345.00 to $350.00 and gave the stock an “equal weight” rating in a research report on Monday, July 15th. Five analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat, Stryker has an average rating of “Moderate Buy” and an average price target of $378.58.

Insider Buying and Selling

In related news, Director Ronda E. Stryker sold 190,000 shares of the business’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $323.46, for a total transaction of $61,457,400.00. Following the sale, the director now owns 3,316,608 shares of the company’s stock, valued at $1,072,790,023.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Ronda E. Stryker sold 190,000 shares of the business’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $323.46, for a total transaction of $61,457,400.00. Following the sale, the director now owns 3,316,608 shares of the company’s stock, valued at $1,072,790,023.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Glenn S. Boehnlein sold 20,000 shares of the business’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $333.00, for a total transaction of $6,660,000.00. Following the sale, the chief financial officer now directly owns 2,852 shares in the company, valued at approximately $949,716. The disclosure for this sale can be found here. Insiders have sold 220,068 shares of company stock valued at $71,811,372 over the last quarter. Corporate insiders own 5.90% of the company’s stock.

Stryker Stock Performance

Shares of SYK opened at $364.81 on Friday. The company has a 50-day simple moving average of $345.12 and a two-hundred day simple moving average of $342.89. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.68 and a quick ratio of 0.95. The firm has a market capitalization of $138.97 billion, a PE ratio of 41.64, a price-to-earnings-growth ratio of 2.87 and a beta of 0.91. Stryker Co. has a one year low of $249.98 and a one year high of $374.63.

Stryker (NYSE:SYK) last released its earnings results on Tuesday, July 30th. The medical technology company reported $2.81 EPS for the quarter, beating analysts’ consensus estimates of $2.79 by $0.02. The company had revenue of $5.42 billion during the quarter, compared to analysts’ expectations of $5.40 billion. Stryker had a return on equity of 22.89% and a net margin of 16.12%. The firm’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same quarter last year, the business posted $2.54 EPS. On average, analysts anticipate that Stryker Co. will post 12 EPS for the current fiscal year.

Stryker Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be paid a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 0.88%. The ex-dividend date of this dividend is Monday, September 30th. Stryker’s payout ratio is currently 36.53%.

Stryker Profile

Stryker Corporation operates as a medical technology company. The company operates through two segments, MedSurg and Neurotechnology, and Orthopaedics and Spine. The Orthopaedics and Spine segment provides implants for use in total joint replacements, such as hip, knee and shoulder, and trauma and extremities surgeries.